1902 Louise Avenue Unit A,B,C&D, Panama City, FL 32405

Property Description

This is a scarce opportunity. Two duplexes, Buildings C and D, two-bedroom, one-bath, and Buildings A and B, one-bedroom, one-bath, are for sale together. There are four water and four electric meters; all utilities are separate. These two buildings have fully remodeled plumbing, electricity, roofs, water heaters, and floors, with effective dates 2012 and 2020. ACs and water heaters are 4 to 5 years old. All units come with washer and dryer connections.This quadplex collects 4,045.00 dollars, almost $50,000 a year. All leases is due to increase when it's time to renew.Great opportunity for owner-occupier. FHA!! - gross income at the current rate is $48,500.00 - Insurance is $4000 - Taxes are $5,673.36 - Vacancy and Maintenance at 5% is $2425 - Net Operating income is $36,401.64 - CAP Rate is 7.2%